Pullman Couch Co. v. Eshelman

WOODS, Circuit Judge.

The Bames Manufacturing Company was adjudged an involuntary bankrupt on April 17, 1923. H. G. Barnes, president of the corporation, filed a claim for $54,700.54, alleging it to be secured by a deed of trust covering all the property of the bankrupt corporation. The Commercial National Bank proved a note of the bankrupt for $17,500, dated August 10, 1922, indorsed by Barnes, and claimed to be subrogated to the security of Barnes under the deed of trust. The deed of trust dated September 24, 1921, expresses that it was given to secure a debt of $50,-000 then oyving to…